HypZert has become one of the most influential and respected valuation bodies in the world. Now, the German organisation is joining VPOs from around the globe, as a member of the IVSC, to support the development of IVS and the global valuation profession.
Since its formation in 1996 by a group of leading German financial institutions, HypZert has evolved to become a preeminent domestic body for real estate valuation accreditation. Today, many German banks regard the HypZert qualification as mandatory for the provision of real estate appraisals.
HypZert awards certifications and provides ongoing monitoring of professionals to ensure compliance with prescribed standards – qualified professionals are also requirement to re-certify every five years. Today, there are more than 1,800 HypZert qualified valuers working in Germany and abroad.
Commenting on HypZert’s membership of the IVSC, Chair of the IVSC Board of Trustees, Sir David Tweedie, said:
“The IVSC’s mission as a not-for-profit public interest organisation is to enhance quality and rigour throughout the global valuation profession, helping to build confidence and trust in financial markets worldwide. It is an important mission and not one that can be achieved unilaterally. In many ways, the IVSC is defined by the network of organisations around the world which are working together to elevate our global profession. The inclusion of HypZert in that network ensures leading German valuation expertise will inform IVS and contribute to our common goal.
Reiner Lux, General Manager of HypZert GmbH added:
“At HypZert, we feel honoured to be part of the massive IVSC global network. From now on, we look forward to supporting IVSC in their objective, namely the development of globally uniform, transparent and reliable valuation standards, and in particular to bring our expertise to bear in the field of mortgage lending valuations, sustainable, long-term value concepts as well as the increasingly important Automated Valuation Models (AVM).”
Wolfgang Kälberer, Head of European Affairs of the Association of German Pfandbrief Banks (vdp), HypZert's main shareholder, commented:
"IVSC membership of HypZert is very much supported by the vdp because global uniform valuation standards used by qualified valuers around the world are an important pillar for the safety of the mortgage business of our member institutions. Cross border and global lending activities are increasingly characterising the business model of German Pfandbrief Banks. "
IVSC welcomes HypZert to a valuation network representing more than 380,000 professionals in 103 countries.